I would pay I/O for 5 yrs, and then ri-fi but you HAVE to hit your pro-forma to execute this plan. 

It's not a get rich quick scheme, it's a lot of active work and I would have 5 yrs in my head at a minimum before you truly become established and stabilized. 

WHEN (yes I mean WHEN not if because over 30+yrs it happens many times) when the market has a drop for whatever reason be it a bad election, war tensions, someone sneezed on there terminal and HFT's went bazerk selling, whatever the cause, WHEN the market drops you get a "Margin CALL" and next thing ya know there not just selling off those leveraged positions BUT there selling em off in the drop, at the lowest price, amplifying losses, all those returns going out the window in moments.     

Currently I am looking to buy and hold for the long-term with the goal of being free and clear by the time I retire ~20 yrs. 

The home in mn over 20 yrs averaged 2.8% increase per year.

My wife and I moved 4 yrs ago and fell in love with the area, its people and specially the food.

Tiling your tub surrounds to the ceiling not only looks nicer, but also helps waterproof the area better, and will likely never need replaced (versus vinyl surround which last about 3 yrs before tenants start cracking them, in my experiences).

No renovations, but cashflow negative (wont hire property manager anymore just to breakeven) @$170-18503. 1031 and buy in WA where we can manage on our ownSame problems with others, we have limited cash available. if we do buy on WA , few concerns are:We are intermittently rehabbing our current home to be rented as Nursing Home eventually hopefully in 2 yrs. home in WA are more expensive and would need higher downpayment and it would be challenging for us because our DTI is high already, we would have do to a dscr thats 100k++ DPSorry for the lengthy post, hope to hear from you!

We have been in business almost 10 yrs. 

My first property has appreciated from $138,100 to around $185,000 since I bought it 3 yrs ago.